Singapore Immigration Programme

Investors interested to start up a business or invest in Singapore may apply for the Singapore Permanent Residence (PR) status through the Global Investors Program (GIP)

Eligibility & Assessment Criteria for GIP Applications

(a) You must possess at least 3 years of successful entrepreneurial and business track record and must produce audited financial statements of your company for the last 3 years.

(b) Your company’s turnover must be at least S$50 million in the most recent year, and at least S$50 million per annum on average for the last 3 years. (S$200 million annual turnover for the real estate or construction-related companies)

(c) If your company is privately-owned, you should have at least 30% shareholding in the company. Your role in the company, as well as the growth and profitability of your company would be taken into consideration.

Investment Options

You may choose one of the following investment options.

Option A: Invest at least S$2.5 million in a new business entity or to expand an existing business operation.

Option B: Invest at least S$2.5 million in a GIP fund that invests in Singapore-based companies.

Provision of your Family

– Your spouse and children (below 21 years old) are eligible to apply fpr PR under your GIP application. Male dependents will be liable for National Service.

– Parents and unmarried children who are 21 years and above of age are not eligible to be included in your GIP application. Instead, they can apply for the 5-year Long Term Visit Pass (LTVP) tied to the validity of your Re-entry permit (REP)

Validity of Re-entry Permit

Upon the formalisation of your PR status, you will be issued a Re-entry Permit (REP) for 5 years. A valid REP is necessary whenever a PR wishes to travel in and out of Singapore. It enables you to retain your PR status while away from Singapore.

Subsequent to the first 5 years, your REP would be renewed if you fulfill the following conditions.

1) For a 3 year renewal, you must have fulfilled the investment conditions under either option A or Option B of the GIP, and EITHER

A) Set up a business in Singapore with 5 or more Singaporeans employees and have incurred at least S$1 million in total business spending a year; or

B) You or at least 1 of your dependents, who is also a PR under GIP, must have resided in Singapore for more than half of the time.

2) For a 5 year renewal, you must have fulfilled the investment conditions under either option A or Option B of the GIP, and

A) Set up a business in Singapore with 5 or more Singaporeans employees and have incurred at least S$1 million in total business spending a year; AND

B) You and your dependents, who is also a PR under GIP, must have resided in Singapore for more than half of the time.

The above information may be subjected to changes without prior notice and does not constitute and should not be construed as legal advice by Sim Mong Teck & Partners, and it is strictly for general information only.

– Have savings of at least S$400,000 in Singapore, in any form of financial instruments (e.g. bank deposit, fixed deposit, foreign currency fixed deposit, stocks & shares or bonds).- Must pass a current medical health screening with a Singapore doctor.

– Must have a medical insurance policy that covers hospitalisation, surgery and critical illness.

– The applicant’s family comprising spouse and unmarried children (both minor and adult).

* Processing time approximately 6 weeks after submission of documents.

Advantages of LTSVP Programme

– Grants 5 years residency in Singapore

– No English language proficiency requirement or education qualification requirement

– No residency requirement

– No business background requirement

The above information may be subjected to changes without prior notice and does not constitute and should not be construed as legal advice by Sim Mong Teck & Partners, and it is strictly for general information only.